AUSTRIA: DOWNTURN IN TRADE WITH EAST EUROPE

Article Abstract:

The central statistics office Ostat reports that in the first half of 1999 Austria's exports to eastern Europe declined 3.8% from a year earlier. The country's surplus in trade with the region shrank by Sch 3bn to Sch 11bn. Austria's exports to eastern Europe have increased almost 4-fold over the past ten years. The growth, however, decelerated already in 1998. Although the adverse development of east European economies affected also other Western exporters, Austria suffered most. In January-June 1999 Austria's exports to eastern central Europe grew 0.2% and to south-east Europe 1.6%, while those to the former Soviet Union dropped 37.7%. 15.3% of Austria's exports went to eastern Europe, compared with 16.6% in 1998 and 4% before the opening up of the former communist economies. Wifo, the Austrian Institute for Economic Forecasting, sees a bleak outlook for Austria's exports to eastern Europe in 1999 on the whole. An increase might take place merely in exports to Russia.

Forecasts, trends, outlooks, Administration of General Economic Programs, Eastern Europe, Trade Relations, Exports, International economic relations, Trade policy

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AUSTRIA: MONEY-BACK GUARANTEE AT TUI AUSTRIA

Article Abstract:

In the winter season 1999/2000, customers of TUI Austria can fly back home and ask their money back if they are not happy with the holiday organised by the company.

Product standards, safety, & recalls, Lodging & Tourist Services, Accommodation, Travel industry

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